Rising wages in the Business Process Outsourcing (BPO) industry are indeed starting to cut into the profits of BPO companies.
Impact on Vietnamese BPO Market
The rising wages in the BPO industry are having a mixed impact on the Vietnamese BPO market. On the one hand, the rising wages are making it more difficult for BPO companies to compete with other countries, such as India and the Philippines. On the other hand, rising wages are also leading to an increase in the quality of the workforce.